Website: http://www.pcwinsoft.com/1av-sound-recorder.asp
Download: Hqmp3recorderpro-3.4.6.60-gotd.zip – mirror
You have full control over quality and size. The program comes with a real-time audio spectrum analyzer. Plus convert, split, trim, cut & join MP3 and other formats.
Note that this program will not function under Vista or earlier as it downloads two copies of FFMPEG.EXE during its operation that only execute under Windows 7 and above. Also it installs TWO programs, one to record and a separate mp3 editor they both create respective folders in the logged in users Documents folder and that is where they download FFMPEG.EXE into and execute it from.
The programs do not use a modern sound interface like WASAPI and consequently can only access recording from devices that have discrete input pins so if your sound subsystem lacks a Stereo Mix or Wavout input device you will not be able to record streaming sound or what you hear from the speakers or headphones. You’d be infinitely better off with Audacity and use WASAPI connection method and select speakers as recording device.